Maldives national CPI decelerates to 2.1% in Nov 2023

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The Maldives national Consumer Price Index (CPI) decelerated to 2.1% in November 2023 from 2.6% in the preceding month, reports Maldives Monetary Authority (MMA).

The largest contribution to the annual rate of inflation during the review month came from restaurants and cafes at 0.40 percentage points. The next from fish at 0.33 percentage points followed by personal care appliances, articles and products at 0.22 percentage points, with electricity same at 0.22 percentage points. Vegetables saw an improvement of 0.21 percentage points, passenger transport by sea by 0.17 percentage points.

Other areas that saw contribution to the annual rate of inflation came from outpatient care services, dairy products, and mobile communication services.

The monthly percentage change in the national CPI declined by 0.4% in November 2023, followed by a decline of 0.1% in October 2023.

The largest contribution to the monthly rate of inflation came from vegetables, sugar, jam, honey, chocolate and confectionery, cereals and cereal products. Besides this, shoes and other footwear, narcotics, electricity, household appliances, security equipment and maintenance and repair materials were among the contributors; though in negative percentage points.

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